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ABACUS WILLS & TRUSTS

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WHAT WE DO

Our Services

At Abacus Wills & Trusts, we know there is nothing more important than family. We firmly believe that everybody has a responsibility to make sure their family is protected and taken care of when they are gone, which is why we are fully dedicated to providing you and your loved ones with comprehensive information and services.

Wills & Estate Planning

As experts with many years’ experience in Will writing, we at Abacus Wills and Trusts ensure that all of your needs are met, whether writing a complex or simple Will. We provide a professional and confidential service, as well as lifetime service support, so that you never need to worry about your affairs once they’re in order.

  • Your children/grandchildren may end up with nothing
  • Your family may lose all access to funds
  • Protect family wealth
  • Protect yourself from care home costs
  • Appoint guardians to look after your young children

Inheritance Tax Planning

Inheritance Tax is a taxation which may be paid on your estate (your money, possessions, and your share of any property) when you die, reducing how much value will ultimately pass to your beneficiaries. Your beneficiaries are the people you want to leave your money and assets to when you die.

There’s normally no Inheritance Tax to pay if either:

  • The value of your estate is below the £325,000 threshold
  • You leave everything above the £325,000 threshold to your spouse, civil partner, a charity, or a community amateur sports club

IHT is currently applied to estates worth more than £325,000 – though this threshold is likely to change in future. When the value of your estate exceeds the limit, known as the ‘nil-rate band’, everything over the threshold is taxed at 40% (unless you’re leaving it to your surviving spouse, in which case no IHT needs to be paid).

For example:

Your estate is worth £500,000 and your tax-free threshold is £325,000. The Inheritance Tax charged will be 40% of £175,000 (£500,000 minus £325,000).

Will Executor Services

Your executor (or executors) plays a key role in helping to organise and manage your estate, by bringing together all administrative aspects and finalising the financial matters. This tends to be a significant undertaking involving tasks including closing bank accounts, dealing with any pensions, paying necessary taxes, and selling or transferring investments or property.

  • You will need to choose your executors when you write your Will and unless you have a trust corporation involved
  • Ensure that they are younger than you or that you appoint potential replacements

Trusts and Trustees

Unlike a Will, which only comes into effect after you die, a trust comes into effect once it has been enacted. Though there are many different types, a trust generally is a legal relationship, represented in a legally binding document, in which you (the settlor) put assets into a trust for a beneficiary/beneficiaries (the person(s) who benefits from the trust) and appoint trustees to manage the trust. These trustees implement your wishes on your behalf after you die.

  • You decide who will be the Trustees
  • Placing your assets in a Trust can protect them from Inheritance Tax
  • Protect your property from Care Home costs

Probate Registry Services

Once an individual dies their Will (which must have been ‘proved’ in a court of law), will go into probate. This is where the executor of the Will, will apply to get a ‘grant of representation’ or a ‘grant of probate’ to access the estate of the deceased person and distribute it according to the Will. An individual can apply for the grant of probate, as can a solicitor on an individual’s behalf, or an external person licensed to provide a probate service.

  • We take care of the Probate process, so you don’t have to
  • We will apply for probate, or grant of representation

Powers of Attorney

Lasting Powers of Attorney (also known as LPA) came into effect in 2007, replacing former Enduring Powers of Attorney (EPA), which were quite restrictive. The Lasting Power of Attorney was created to meet an individual’s needs ahead of time, when they may no longer be able to look after their own affairs – personal or financial. A Lasting Power of Attorney allows an individual to make arrangements for family or friends to make decisions on their behalf, should they no longer be able to do so e.g. they lose mental capacity.

  • We provide Power of Attorney for Property and Financial
  • We provide Power of Attorney for Health and Welfare
  • Credible solutions for incredible business
  • This will be registered with the Office of Public Guardian

Shariah Compliant Wills

At Abacus Wills and Trusts, we pride ourselves in being one of the UK’s leaders in writing Islamic Wills (also known as Sharia or Shariah Compliant Wills) for our Muslim clients. Under UK law, the only way to ensure that your estate is distributed according to Sharia, is by having a valid Islamic Will in place.

  • We provide Wills in accordance with the Islamic Shariah laws of inheritance
  • Specifying Islamic burials in your Will

Care Home Cost Protection

As we get older, we are more likely to suffer from disabilities and chronic health conditions so subsequently we need more health and personal care. That’s why it is important to plan ways to finance any future care fees as early as possible. If you plan in advance, there are a number of steps you can take to finance care home fees without having to necessarily sell your property. 

  • Setting up an asset protection trust is the best way to protect your assets from care home fees to preserve your loved ones’ inheritance
  • You will need to appoint trustees (usually family members) to manage the trust and carefully explore the different kinds of trusts available.

Registration of Trust

It is now a requirement that certain trusts are registered such that HMRC have details of the beneficial ownership. Although this has taken several years to bring about, but the deadline for such registration has now been set as 1 September 2022.

  • The HMRC Trust Registration Service (TRS) is a register of the beneficial ownership of trusts. It was set up as part of an EU anti-money laundering directive aimed at combatting money laundering, serious crime, and terrorist financing.
  • Each EU member state has a similar register, and the UK agreed to maintain the TRS as part of the Brexit Withdrawal Agreement.

ABACUS WILLS & TRUSTS

Why You Should Choose Us?

Our Company

We know there is nothing more important than family. We firmly believe that everybody has a responsibility to make sure their family is protected and taken care of when they are gone, which is why we are fully dedicated to providing you and your loved ones with comprehensive information and services, to help you achieve peace of mind in the knowledge that all of your affairs are in order.

Our Vision

As specialists in our field, we understand that the area around Wills and Trusts can be emotional and often a daunting task, therefore we make it our priority to put your mind at ease and make the process as smooth and easy as possible for you. Abacus Wills and Trusts are professional and friendly, providing you with a confidential and expert service with fully flexible, ongoing lifetime support.

Our Story

Here at Abacus we are always searching for ways to extend the range of our services and support to those who need it. For the past 15 years, we have provided Will writing and estate planner services throughout the UK and Europe and now implementing structures to extend our services worldwide. It has been our goal to provide caring and compassionate support to all who need it.

WHY CHOOSE US

Where there is a Will, there is a way.

Here at Abacus we are always searching for ways to extend the range of our services and support to those who need it. For the past 15 years, we have provided Will writing and estate planner services throughout the UK and Europe and now implementing structures to extend our services worldwide. It has been our goal to provide caring and compassionate support to all who need it. This is the ethos behind Abacus that we strive to deliver to all of our customers. We will also ensure that any document we create for you is low cost, competitive and we’ll endeavor to best any quote from elsewhere, all whilst always maintaining our professional standards.

15 K

Our Projects

Wills & Estate Planning Completed

75 +

Our History

Years Combined Experience

15 K

Our Clients

Happy & Satisfied Clients

MORE THAN 15,000 HAPPY CLIENTS

Our specialist practitioners provide a
bespoke service and are able to come and visit
you in the comfort of your home at any time of
the day to make the process easier for you!

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